10/12/2024
🇨🇳 Chinese Stocks Surge on Policy Shift & Inflation Data
📈Chinese stock indices rallied on Monday as the government signalled a shift to a 'moderately loose' monetary policy. The Hang Seng Index jumped nearly 6%, though it only regained last month's levels.
Key drivers:
✅Consumer inflation slowed to 0.2% y/y, defying expectations of 0.4%.
✅Producer price index narrowed its decline to 2.5% y/y, slightly better than expected.
However, looser monetary policy is pressuring the yuan, with USDCNH dipping below 7.29 amidst inflation, policy shifts, and tariff war fears. The authorities' push to stabilise the currency faces market challenges ahead. 📊
👉Read more: https://fxpro.news/market-overview/soft-inflation-and-policy-shift-helped-chinese-stocks-20241209/
